Trustmark (NASDAQ:TRMK) Rating Lowered to Sell at StockNews.com

Trustmark (NASDAQ:TRMK) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

Several other brokerages have also recently weighed in on TRMK. DA Davidson lifted their price target on Trustmark from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Truist Financial reduced their price target on Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $34.50.

Trustmark Trading Down 1.6 %

Shares of NASDAQ:TRMK opened at $31.97 on Monday. Trustmark has a 52-week low of $18.96 and a 52-week high of $35.72. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 12.44 and a beta of 0.74. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $32.60 and a 200-day moving average price of $30.02.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. The firm had revenue of $283.96 million during the quarter, compared to analysts’ expectations of $229.83 million. During the same period last year, the business posted $0.74 earnings per share. Equities analysts predict that Trustmark will post 2.93 EPS for the current year.

Institutional Trading of Trustmark

A number of institutional investors and hedge funds have recently made changes to their positions in TRMK. GAMMA Investing LLC boosted its stake in shares of Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 351 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Trustmark in the first quarter worth approximately $52,000. Innealta Capital LLC acquired a new stake in shares of Trustmark in the second quarter worth approximately $61,000. CWM LLC boosted its stake in shares of Trustmark by 14.6% in the second quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 611 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new stake in shares of Trustmark in the second quarter worth approximately $238,000. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

About Trustmark

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.